06-24-2019, 05:26 AM
It's all about your fiscal pain threshold. I tell that to my clients all the time. I have loans on my bikes right now, so I can't go Liability Only. Once my bike is paid off, I will. I would rather make sure that I have the proper liability coverage and maybe bank some of that premium and take a risk on the loss of a few thousand bucks if I totaled my bike. Also, my bike is a luxury to me. If it were damaged beyond repair and I didn't have the money for a new one, I'd probably just do without. Whereas, I need my car for work and such, so that would be a financial problem if I needed to replace it suddenly so I keep full coverage on it.